You are here: Home » Companies » News
Business Standard

SoftBank Group to book $11-bn in pre-tax profit on Alibaba share sale

Son has referred to the value of the Alibaba stake to argue that SoftBank Group's shares are undervalued

Reuters  |  Tokyo 

Japan's SoftBank Group Corp said on Tuesday it expects to book around 1.2 trillion yen ($11.12 billion) in pre-tax profit on the sale of shares in China's Alibaba Group Holding Ltd. The sale dates from 2016 when SoftBank sold part of its Alibaba stake via derivatives to fund its acquisition of British chip designer ARM. The transaction leaves SoftBank with a 26 per cent stake in Alibaba worth $101 billion. The Japanese investment firm said it would book the profit in the financial quarter ending June. SoftBank Group founder and Chief Executive Masayoshi Son bought into ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Tue, June 04 2019. 15:30 IST